| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.1B | $1.8B | $1.9B | 14.0% | 6.2% |
| Op. Income | $499M | $345M | $441M | 44.6% | 13.0% |
| Gross Margin | 37.3% | 31.8% | 35.6% | 5.5pp | 1.7pp |
| Net Margin | 18.1% | 13.4% | 16.6% | 4.7pp | 1.5pp |
| EPS (Diluted) | $3.16 | $2.05 | $2.72 | 54.1% | 16.2% |
| Free Cash Flow | $663M | $349M | $685M | 90.1% | -3.1% |
| Item | Amount |
|---|---|
| REVENUE | $2.1B |
| Cost of Revenue | $1.3B |
| GROSS PROFIT | $770M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $271M |
| Other Expenses | $0 |
| Operating Expenses | $271M |
| Cost & Expenses | $1.6B |
| OPERATING INCOME | $499M |
| Interest Income | $3M |
| Interest Expense | $30M |
| Other Income/Expenses | -$27M |
| INCOME BEFORE TAX | $472M |
| Income Tax Expense | $97M |
| Net Income from Continuing Ops | $374M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $374M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $374M |
| D&A | $126M |
| EBIT | $501M |
| EBITDA | $627M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $2.1B |
| Cost of Revenue | $1.3B |
| GROSS PROFIT | $770M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $271M |
| Other Expenses | $0 |
| Operating Expenses | $271M |
| Cost & Expenses | $1.6B |
| OPERATING INCOME | $499M |
| Interest Income | $3M |
| Interest Expense | $30M |
| Other Income/Expenses | -$27M |
| INCOME BEFORE TAX | $472M |
| Income Tax Expense | $97M |
| Net Income from Continuing Ops | $374M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $374M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $374M |
| D&A | $126M |
| EBIT | $501M |
| EBITDA | $627M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $374M |
| Depreciation & Amortization | $83M |
| Stock-Based Compensation | $16M |
| Deferred Income Tax | $32M |
| Other Non-Cash Items | $42M |
| Change in Working Capital | $152M |
| OPERATING CASH FLOW | $700M |
| Capital Expenditure | -$36M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$4M |
| NET CASH FROM INVESTING | -$40M |
| Net Debt Issuance | -$187M |
| Common Stock Repurchased | -$131M |
| Common Dividends Paid | -$103M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$423M |
| FREE CASH FLOW | $663M |
| Net Change in Cash | $244M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $562M |
| Short-Term Investments | $0 |
| Net Receivables | $1.1B |
| Inventory | $0 |
| Other Current Assets | $179M |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $346M |
| Goodwill | $3.6B |
| Intangible Assets | $1.3B |
| Long-Term Investments | $299M |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.2B |
| TOTAL NON-CURRENT ASSETS | $6.7B |
| TOTAL ASSETS | $8.5B |
| Account Payables | $220M |
| Short-Term Debt | $499M |
| Deferred Revenue | $334M |
| Other Current Liabilities | $373M |
| TOTAL CURRENT LIABILITIES | $1.9B |
| Long-Term Debt | $2.8B |
| Deferred Revenue NC | $429M |
| Deferred Tax Liabilities | $261M |
| Other Non-Current Liabilities | $416M |
| TOTAL NON-CURRENT LIABILITIES | $4.0B |
| TOTAL LIABILITIES | $5.9B |
| Common Stock | $2M |
| Additional Paid-In Capital | $1.7B |
| Retained Earnings | $3.9B |
| Treasury Stock | -$2.6B |
| Accum. Other Comp. Income | -$273M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $2.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $2.7B |
| TOTAL LIABILITIES & EQUITY | $8.5B |
| Total Debt | $3.5B |
| Net Debt | $2.9B |
